Japan Identity Verification Market to Valuation of USD 685.2 Million By 2030 | Infinium Global Research

The Japan Identity Verification Market is experiencing a remarkable surge, with a projected CAGR of 19.19% during the forecast period. In 2022, the market was valued at USD 200.5 million and is expected to reach USD 685.2 million by 2030. Several key factors are propelling this impressive growth, including stringent government regulations, the growing need to combat identity theft, and the integration of cutting-edge technologies.

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Stringent Government Regulations Drive Adoption

Governments worldwide are implementing stronger measures to combat terrorism, money laundering, and other criminal activities involving false identities. Japan is no exception, with regulations such as the Act on Prevention of Transfer of Criminal Proceeds and the Foreign Exchange and Foreign Trade Act mandating identity verification during transactions. This stringent regulatory environment is a significant driver of the Japanese identity verification market.

Rising Cybersecurity Concerns Boost Demand

With the increasing number of data breach cases and data theft incidents, the need for robust identity verification solutions has surged. Identity verification, whether through traditional paper documentation or digital means, has become essential in safeguarding sensitive information. The recent collaboration between SAFR from RealNetworks and the Japanese government to enhance digitalization initiatives is a testament to the growing importance of identity verification in Japan.

BFSI Sector Leads the Way

Japan's banking sector, a vital component of the nation's economy, is undergoing a significant technological transformation. The proliferation of mobile devices and high-speed internet has driven digitalization in financial services, with banks investing heavily in enhancing mobile applications and data security. Automatic identity verification streamlines customer experiences, reduces enrolment times, and strengthens identity verification, benefiting financial institutions and their customers alike.

Challenges in Cost and Opportunities in AI Integration

The high cost associated with various identity verification solutions has presented challenges, especially for small and mid-sized industries. However, the market is witnessing a growing integration of Artificial Intelligence (AI) to enhance the analytical and incident response capabilities of identity verification solutions. AI-powered identity verification not only improves accuracy but also reduces the need for human review, making it an attractive option for industries and countries with stringent security regulations.

A Bright Future for Identity Verification in Japan

The Japan identity verification market is poised for substantial growth, driven by regulatory compliance, cybersecurity concerns, and technological advancements. As identity verification becomes increasingly crucial in safeguarding sensitive information and adhering to government regulations, the market is expected to continue its impressive expansion.

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Table of Contents

Chapter 1. Report Overview

1.1. Report Description

1.2. Research Methods

1.3. Research Approaches

Chapter 2. Executive Summary

Chapter 3. Market Overview

3.1. Introduction

3.2. Market Dynamics

3.2.1. Drivers

3.2.2. Restraints

3.2.3. Opportunities

3.2.4. Challenges

3.3. PEST-Analysis

3.4. Porter's Diamond Model for Japan Identity Verification Market

3.5. IGR-Growth Matrix Analysis

3.6. Competitive Landscape in Japan Identity Verification Market

Chapter 4. Japan Identity Verification Market by Deployment

4.1. On-premises

4.2. Cloud

Chapter 5. Japan Identity Verification Market by Component

5.1. Solutions

5.2. Services

Chapter 6. Japan Identity Verification Market by End User

6.1. IT and Telecommunication

6.2. Healthcare

6.3. BFSI

6.4. Other End Users

Chapter 7. Company Profiles

7.1 IDEMIA

7.1.1 Overview

7.1.2 Company Snapshot

7.1.3 Product Portfolio

7.1.4 Recent Development

7.2 LIQOUD eKYC

7.2.1 Overview

7.2.2 Company Snapshot

7.2.3 Product Portfolio

7.2.4 Recent Development

7.3 Shufti Pro

7.3.1 Overview

7.3.2 Company Overview

7.3.3 Product Portfolio

7.4 Thales Group

7.4.1 Overview

7.4.2 Company Snapshot

7.4.3 Product Portfolio

7.4.4 Recent Developments

7.5 TRUSTDOK Inc.

7.5.1 Overview

7.5.2 Company Snapshot

7.5.3 Product Portfolio

7.5.4 Recent Development

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Reasons to Buy this Report:

=> Comprehensive analysis of regional markets of Japan Identity Verification.

=> Complete coverage of all the product types and application segments to analyze the trends, developments, and forecast of market size up to 2030.

=> Comprehensive analysis of the companies operating in this market. The company profile includes an analysis of the product portfolio, revenue, SWOT analysis, and the latest developments of the company.

=> Infinium Global Research- Growth Matrix presents an analysis of the product segments and geographies that market players should focus on to invest, consolidate, expand, and/or diversify.

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